While the Stage 3 tax cuts are in the spotlight, here's 18 reasons why they should be redesigned 🧵 #auspol

1/ There are much fairer (and cheaper) ways to give people a tax cut

Here are four alternatives, each delivering a bigger slice of the pie to 80% of taxpayers. 2/ They will make inflation worse

Handing out a quarter of a trillion in tax cuts to high income earners, during a time of already high inflation, is only going to make inflation worse, and hurt those on lower incomes more. #auspol

Saying the quiet part out loud...🙃

When the opposition wouldn't cooperate with the government attempting to ram through their favour for Santos - the Sea Dumping Bill - this happened:

"You said no to Santos."
"You said no to Woodside. "
"You said no Inpex."
#auspol Our research shows that this Bill appears primarily aimed at facilitating the Santos Barossa Project, its related Bayu-Undan CCS project and other fossil fuel projects off Australia’s northern shores.

CCS is a technology that has failed for decades.

australiainstitute.org.au/report/submiss…

Here's 17 reasons why the Stage 3 tax cuts should be scrapped 🧵

1/ FACT: the Stage 3 tax cuts are massively expensive and massively unfair

They will cost $313 billion over a decade, of which $157.5 billion will go to those earning more than $180,000 per year. #auspol 2/ Every dollar of the Stage 3 tax cuts to the wealthy ($313 billion), is a dollar not spent on government services that are crying out for funds like Aged Care and Medicare, or increasing the rate of Jobseeker above the poverty line. #auspol

Here's 17 reasons why the Stage 3 tax cuts should be scrapped 🧵

1/ FACT: the Stage 3 tax cuts are massively expensive and massively unfair

They will cost $313 billion over a decade, of which $157.5 billion will go to those earning more than $180,000 per year. #auspol 2/Every dollar of the Stage 3 tax cuts to the wealthy ($313 billion), is a dollar not spent on government services that are crying out for funds like Aged Care and Medicare, or increasing the rate of Jobseeker above the poverty line. #auspol

Here's 16 reasons why the Stage 3 tax cuts should be scrapped 🧵

1/ FACT: the Stage 3 tax cuts are massively expensive and massively unfair

They will cost at least $313 billion over a decade, of which $157.5 billion will go to those earning more than $180,000 a year. #auspol 2/

Every dollar of the Stage 3 tax cuts to the wealthy ($313billion), is a dollar not spent on government services that are crying out for funds like Aged Care and Medicare, or increasing the rate of Jobseeker above the poverty line. #auspol

Here's 16 reasons why the Stage 3 tax cuts should be scrapped 🧵

1/ FACT: the Stage 3 tax cuts are massively expensive and massively unfair

They will cost at least $313 billion over a decade, of which $157.5 billion will go to those earning more than $180,000 a year. #auspol 2/
Every dollar of the Stage 3 tax cuts to the wealthy ($313billion), is a dollar not spent on government services that are crying out for funds like Aged Care and Medicare, or increasing the rate of Jobseeker above the poverty line. #auspol

Here's 16 reasons why the Stage 3 tax cuts should be scrapped 🧵

1/ FACT: the Stage 3 tax cuts are massively expensive and massively unfair

They will cost at least $254 billion over a decade, of which $117.6 billion will go to those earning more than $180,000 a year. #auspol 2/
Every dollar of the Stage 3 tax cuts to the wealthy ($254billion), is a dollar not spent on government services that are crying out for funds like Aged Care and Medicare, or increasing the rate of Jobseeker above the poverty line. #auspol

It's #Budget2023 Day!

If the leaks are true, it's peanuts for those on welfare, and tax cuts for high-income earners.

Here are 16 reasons why the Stage 3 tax cuts should be scrapped 🧵#auspol 1/ FACT: the Stage 3 tax cuts are massively expensive and massively unfair

The Stage 3 tax cuts are forecast to cost at least a quarter of a trillion dollars ($254 billion) over a decade, of which $117.6 billion will go to those earning more than $180,000 a year. #auspol

Here's 16 reasons why the Stage 3 tax cuts should be scrapped 🧵

1/ FACT: the Stage 3 tax cuts are massively expensive and massively unfair

They will cost at least $254 billion over a decade, of which $117.6 billion will go to those earning more than $180,000 a year. #auspol 2/
Every dollar of the Stage 3 tax cuts to the wealthy ($254billion), is a dollar not spent on government services that are crying out for funds like Aged Care and Medicare, or increasing the rate of Jobseeker above the poverty line. #auspol

Treasury has released information on who wins and who misses out on some enormous tax concessions, including capital gains, super, and negative gearing.

Let's look at who is getting the benefit from 6 legal tax loopholes. Thread 🧵

(Hint: 💰💰) #auspol Capital gains discount for individuals and trusts allows people making a capital gain to pay just half the tax they otherwise would. Worth $23.7 billion with 75% going to the top 10%. The other 90% get very little.

"Inflation would have stayed within or near the Reserve Bank target band if companies had not squeezed consumers through excessive price increases." according to our research @CntrFutureWork @JimboStanford
theaustralian.com.au/business/econo… “For Australians doing it tough, this data would be aggravating.

“Excess” corporate profits account for 69% of additional inflation beyond the RBA’s target, while rising unit labour costs account for just 18% of that inflation."

FOR IMMEDIATE RELEASE | Real Wages Fell 4.5% in 2022; Largest Fall on Record as Rate Rises Risk Recession

"Workers are not to blame for rising inflation and interest rates and the RBA should stop blaming people who are doing it tough and start addressing the economic reality." "Profits are driving the cost-of-living and housing crises.

To blame workers for current inflation while they experience unprecedented real wage drops and companies post surging profits is economic gaslighting of the highest order." @MattGrudnoff

We are LIVE now for a discussion of the strategic implications of the AUKUS nuclear submarine deal! Joining us will be @gthompson19 of @theamwu & our Director of Intl & Security Affairs @Mirandaprorsus.
There’s still time to join us – register here:
us02web.zoom.us/webinar/regist… @gthompson19 @theamwu @Mirandaprorsus @Mirandaprorsus on the nuclear submarine fleet: “the investments we need to operate these things safely and with effect are enormous.”

The mining industry has a long history of using dodgy economic modelling and outright lies to exaggerate its contribution to employment and tax.

But make no mistake: Fake news harms democracy
#auspol 🧵👇 It's no wonder people are losing faith in our democracy. We can't have a proper debate about policy when the mining industry makes claims like their recent outrageous 'million jobs' claim #auspol

We are LIVE for today’s webinar with our Exec. Director @RDNS_TAI and senior climate and energy researcher @pollyjhemming talking dodgy carbon credits with @ebony_bennett #auspol

There’s still time to join us – register here: us02web.zoom.us/webinar/regist… Are Australia's emmissions reducing? @RDNS_TAI responds with a flat "no." @pollyjhemming reminds viewers that Australia's actual emissions have only gone down 1.8% relative 2005. #climate #auspol

As Parliament debates IR laws, today is
⏲️ Go Home On Time Day ⏲️
Our @CntrFutureWork research shows the average worker loses:
⌛️SIX WEEKS unpaid overtime per year
💰 $8,000 dollars in unpaid wages per worker per year
💰 that's $92b nationally @mikejanda abc.net.au/news/2022-11-2… @CntrFutureWork @mikejanda There's talk about 'getting wages moving' but right now systemic unpaid overtime moves wages in the wrong direction - while workers lose time with family, friends and for R&R @catiemcleod news.com.au/finance/work/a…

We are LIVE for today’s webinar: Regional Climate Diplomacy Forum 2022 w/ @PacificElders @ERCAus
and @RichieMerzian @RDNS_TAI @ebony_bennett #auspol

There’s still time to join us – register here: australiainstitute.org.au/event/regional… @PacificElders @ERCAus @RichieMerzian @RDNS_TAI @ebony_bennett Their Excellencies Anote Tong, former President of Kiribati and Tommy E. Remengesau Jr. former President of Palau join us for the 2022 Regional Climate Diplomacy Forum

We’re @TheAusInstitute, one of Australia’s most influential public policy think tanks. We're proudly independent and we barrack for ideas, not political parties.
Here’s a thread of our recent work across some of the biggest issues facing Australia and the world today
⏬🧵#auspol It's perfectly legal to lie in a political ad. It shouldn't be. Our research consistently finds 4 in 5 Australians want truth in political advertising laws.

https://twitter.com/TheAusInstitute/status/1410456293819572229

Will it be a climate budget? Probably not.

Many of the pre-announced ‘climate’ measures support fossil fuels, and the adaptation measures carefully avoid referring to ‘climate change’. #auspol #Budget2021

So, what do we know so far?

[THREAD 🧵👇] ANNOUNCEMENT ONE //
$58.6 million to advance ‘Australia’s gas-fired recovery’
minister.industry.gov.au/ministers/tayl…

1 // FACT: It's perfectly legal to lie in a political ad, and it shouldn't be #auspol #actpol
medium.com/@TheAustraliaI… 2 // Without action, we risk election campaigns sliding into a fake-news free-for-all

Political advertisements that are deceptive and misleading interfere with the public’s ability to make informed decisions. #auspol #actpol
medium.com/@TheAustraliaI…

"In polling today, Australians are more concerned about climate change. Do you think since the fires people's concerns about climate change have shifted & that now requires stronger action"

The PM's response? More claims we're "meeting and beating" our emissions targets🙄#auspol The bushfire crisis has intensified concern about climate change and its impacts #auspol #AustraliaBurning

@TheAusInstitute's Climate of the Nation poll shows 79% of ppl are concerned about climate change - up 5 percentage points from just 6 months ago > tai.org.au/content/concer…